RAPAPORT... Belgium saw a decline in its imports and exports of rough diamonds
in the first quarter, as mining companies’ sales dropped.

Shipments into the
country slid 33% to $2.09 billion for the period, reflecting a 38% slump in
rough sales at Alrosa, for which Belgium is the biggest market. De Beers’
revenues also fell 19% at its first two sales cycles of 2019, which took
place during the quarter.

Meanwhile, Belgium’s polished exports decreased, as
lower volumes outweighed a higher average price, according to the data from the Antwerp World Diamond Centre (AWDC).

Millions unless stated otherwise

Mar 2019

Year-on-year change

Polished exports

$1,047

-4%

Polished imports

$1,512.1

2%

Net polished exports

-$465.1

Deficit increased 16%

Rough imports

$744.2

-36%

Rough exports

$921.7

-38%

Net rough imports

-$177.5

Deficit decreased 44%

Net diamond account

-$287.6

Deficit increased 224%

Polished exports: volume

377,161 carats

-11%

Average price of polished exports

$2,776/carat

9%

1Q 2019

Year-on-year change

Polished exports

$3,063.8

-4%

Polished imports

$3,225.9

2%

Net polished exports

-$162

2018: Surplus of $16.1M

Rough imports

$2,091.6

-33%

Rough exports

$2,520

-28%

Net rough imports

-$428.4

Deficit increased 8%

Net diamond account

$266.3

Surplus decreased 36%

Polished exports: volume

1.2 million carats

-10%

Average price of polished exports

$2,652/carat

7%

Source: Antwerp World Diamond Centre/Rapaport archives

About the data: Belgium is usually a net exporter of polished diamonds.
As such, net polished exports — representing polished exports
minus polished imports — will normally be a positive number. The nation is also
a net exporter of rough. While Antwerp is home to some high-value
manufacturing, its main role in the market is as a facilitator of rough-diamond
trading, with companies from around the world coming to the city to buy rough.
The net
diamond account is total rough and polished exports minus
total imports. It is Belgium’s diamond trade balance, and shows the added value
the nation creates by exporting rough or manufacturing it into polished.